In a decisive move to maintain financial pressure on Moscow, the Treasury Department announced intentions to impose over 500 new sanctions on Russia this Friday. The penalties are among the most severe since the beginning of the Ukrainian conflict. The Biden administration is focused on showing resolute backing for Ukraine despite opposition from some Republican legislators. The sanctions also serve as a response to the death of Alexei Navalny, a critic of Russian President Vladimir Putin, with President Joe Biden promising to target those responsible for his demise.
The forthcoming sanctions were briefed by administration officials and are expected to coincide with additional measures from the State Department. As the war persists, thousands of sanctions have already targeted Russian figures and entities. Alongside this, the Justice Department has recently pronounced a slew of indictments, including charges against the head of VTB Bank, Andrei Kostin, for his involvement in sanction evasion and money laundering connected to luxury assets.
The Justice Department’s Task Force KleptoCapture is actively enforcing economic restrictions and sending a strong message to Putin’s regime about the long-term US commitment to counter the war efforts financially. To date, US law enforcement has restrained or seized nearly $700 million in assets, charged over 70 individuals, and managed to transfer more than $5 million to support Ukraine. Despite the sanctions, reports suggest that Russia’s economy has shown resilience with the help of allies like Iran.
On the legal front, various individuals connected with Russian oligarchs have faced indictments and seizures, such as the luxury yacht Tango and properties in prestigious locations like Bal Harbour. Amid these developments, Biden met with Navalny’s family to express his condolences and affirm his stance against the actions that led to Navalny’s death. The family’s struggle for access to Navalny’s remains has gained White House support in light of Russian officials’ refusal to release the body.
President Joe Biden’s personal experiences with loss allow him to empathize with Navalny’s loved ones, reinforcing his commitment to hold Russia accountable. With the anniversary of the Ukraine invasion near, the US escalates sanctions to dismantle the Russian war apparatus. Navalny’s legacy as a staunch critic of corruption in Russia endures amid controversy surrounding his death and the insistence of his family and supporters for transparency and the right to bid farewell.